Former Wells Fargo exec joins U.S. Bank as head of wealth management products
U.S. Bank has snagged a former Wells Fargo executive to oversee the bank's wealth management products.
Karen Wimbish will lead teams responsible for investment and banking product offerings as well as planning platforms and product technology across all client segments, from ultrahigh-net-worth to mass-affluent, the bank announced on Monday.
She replaces Ann Senne, who left for another firm last month, according to U.S. Bank.
As head of wealth management products, Wimbish will lead all aspects of product development and management, including strategy, pricing and product profitability, process management and market support. The scope of her role includes investments, insurance, trust, bank products and related platform technology, the bank said.
In her previous role at Wells Fargo, Wimbish led the retail retirement group, a position she held from June 2010 to February 2016, according to her LinkedIn profile. Prior to that, she was president of the Latin America group at Wells Fargo Advisors for almost five years. Wimbish had been with Wells Fargo and its predecessor firms since 1996.
The bank tapped a former State Street executive to take over the role from Terry Dolan, who was promoted to CFO.December 13
"We don't measure that. We don't set quotas," Richard Davis told analysts while reporting strong revenue and profit numbers for the bank's wealth management businesses.October 19
The new CIO will direct U.S. Bank Wealth Management's Asset Management Group and lead its investment management business strategy and policies.October 14
Wimbish worked briefly for consulting firm North Highland and executive search firm My Next Season since leaving Wells Fargo, according to her LinkedIn profile.
"We are thrilled to welcome Karen to the U.S. Bank team as she brings a unique blend of
expertise, from working directly with financial advisers to managing retirement services for a retail wealth management business," Gailyn Johnson, chief operating officer for U.S. Bank Wealth Management, said in a statement.
U.S. Bank Wealth Management generated $187 million in third-quarter revenue, up 5% year-over-year, according to the bank's latest earnings release.
"I look forward to continuing to build a competitive and comprehensive product platform that serves the needs of all of our clients," Wimbish said in a statement.